Rand Snaps Three-Day Winning Streak Amid Light News Flow

Spot USD/ZAR has edged higher, even as the BBDXY trades on a heavier footing. The pair deals at 18.6497, around 500 pips better off. Familiar technical levels remain in play, with bulls eyeing resistance from Jan 22 high of 19.2180, while bears look for a dip towards Jan 12 low of 15.5385. Local headline flow has provided little in the way of meaningful catalysts for ZAR price action.

• Chinese stocks ended the week in the red after a volatile second half of the session, despite recouping some losses in a late-doors rebound. The redback was stable, even as local equity benchmarks were under pressure. As the Asia session wrapped up, the focus turns to the US NFP report.
• The composite BBG Commodity Index is little changed on the day and the precious metals subindex sits marginally higher. SAGBs are a tad softer, with South Africa's 10-year breakeven inflation rate sitting at 6.27%. There has been little cross-asset impetus amid generally contained ranges.